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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.27

$49.9 M

4.59%

$0.43

1.49%

Vitals

YTD Return

0.9%

1 yr return

3.5%

3 Yr Avg Return

0.0%

5 Yr Avg Return

1.1%

Net Assets

$49.9 M

Holdings in Top 10

98.0%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.49%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000

IRA

$10,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.27

$49.9 M

4.59%

$0.43

1.49%

TUIFX - Profile

Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.56%
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Toews Unconstrained Income Fund
  • Fund Family Name
    Navigator Funds
  • Inception Date
    Aug 28, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Randall Schroeder

Fund Description

The Fund’s adviser seeks to achieve the Fund’s primary investment objective by investing in: (1) exchange traded funds and open-end investment companies (“Underlying Funds”) that primarily invest in or are otherwise exposed to domestic or foreign debt instruments, including developed or emerging market high-yield debt instruments (also known as “junk bonds”); (2) total return swaps and credit default swaps that use high yield debt instruments or high yield indexes as reference assets; (3) U.S. or foreign fixed-income securities, including developed or emerging market fixed income securities (of any rating and varying maturities), and structured notes; (4) preferred stocks; and (5) mortgage-related fixed income instruments of varying maturities (such as mortgage pass-through securities; collateralized mortgage obligations; mortgage-backed securities; asset-backed securities; senior, subordinated and junior subordinated mortgage notes and mortgage dollar rolls). The Fund may also invest a portion of its assets in private placement offerings, including mortgage-related fixed income instruments, which may be illiquid. The Fund’s secondary objective is to limit risk. During unfavorable market conditions, and when the adviser determines such conditions exist, the Fund will take a defensive position and/or be allocated 100% to U.S. Treasuries securities or short-term fixed income securities, U.S. or foreign cash or cash equivalents. The Fund may invest in US Treasury securities of any duration or maturity. The Fund may also invest in futures contracts on such US Treasury securities.

The Fund may invest in either U.S. or foreign securities or issuers, without limitation with respect to the amount or type of foreign security and these investments may include securities of issuers in developed or emerging markets.

The Fund may invest in both investment-grade fixed income securities and high yield fixed income securities (“junk bonds”). The Fund defines high-yield debt instruments as corporate bonds or other bonds or debt instruments that are generally rated lower than Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or lower than BBB- by S&P (below investment grade). Up to 100% of the Fund’s assets may be invested in instruments generally rated below Caa3 by Moody’s or CCC- by S&P or derivatives of such instruments. The Fund may invest in high yield bonds directly or through derivative instruments designed to replicate some or all of the features of an underlying portfolio of high yield bonds, such as credit default swaps. The Fund may invest in and/or short equity index futures contracts.

The adviser also may use a “representative sampling” indexing strategy to manage the Fund. This indexing strategy involves investing in a representative sample of securities that collectively has an investment profile similar to the broad-based US and foreign stock indices and, with respect to the high-yield bond segments of the portfolio, the high-yield bond market as a whole.

The Fund may employ an options strategy. The Fund may purchase put and call options on broad-based market and futures market indices. The Fund may also buy put options on or sell short equity index ETFs. A put option is a contract giving the owner the right, but not the obligation, to sell–or sell short–a specified amount of an underlying security at a pre-determined price within a specified time frame. A call option is a contract giving the option buyer the right, but not the obligation, to buy an asset or instrument at a specified price within a specific time period.

The adviser may engage in active and frequent trading to achieve the Fund’s investment objectives.

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TUIFX - Performance

Return Ranking - Trailing

Period TUIFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -6.5% 5.7% 58.42%
1 Yr 3.5% -9.3% 24.0% 89.80%
3 Yr 0.0%* -16.7% 18.1% 55.93%
5 Yr 1.1%* -13.0% 15.2% 75.61%
10 Yr 1.6%* -13.4% 6.7% 76.05%

* Annualized

Return Ranking - Calendar

Period TUIFX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.3% -12.0% 15.7% 91.36%
2022 -5.4% -31.8% 18.4% 8.70%
2021 -2.3% -26.6% 25.7% 66.18%
2020 1.2% -49.2% 18.7% 56.18%
2019 4.4% -35.1% 15.3% 53.90%

Total Return Ranking - Trailing

Period TUIFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -6.5% 5.7% 58.42%
1 Yr 3.5% -9.3% 24.0% 89.80%
3 Yr 0.0%* -16.7% 18.1% 55.93%
5 Yr 1.1%* -13.0% 15.2% 75.61%
10 Yr 1.6%* -13.4% 6.7% 76.05%

* Annualized

Total Return Ranking - Calendar

Period TUIFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.9% -7.0% 22.2% 92.13%
2022 -4.4% -31.8% 21.1% 22.94%
2021 -0.2% -13.5% 49.9% 79.74%
2020 2.6% -28.6% 24.1% 75.27%
2019 7.0% -4.8% 19.1% 68.95%

NAV & Total Return History


TUIFX - Holdings

Concentration Analysis

TUIFX Category Low Category High TUIFX % Rank
Net Assets 49.9 M 2.32 M 127 B 92.40%
Number of Holdings 2 2 10577 100.00%
Net Assets in Top 10 47 M -1.57 B 65.8 B 76.33%
Weighting of Top 10 97.99% 0.7% 170.6% 5.09%

Top 10 Holdings

  1. B 11/07/23 97.98%
  2. BANKSAFE TOEWS 0.02%

Asset Allocation

Weighting Return Low Return High TUIFX % Rank
Bonds
97.98% -150.81% 203.29% 21.55%
Cash
2.02% -94.66% 258.91% 64.64%
Convertible Bonds
0.41% 0.00% 33.50% 67.45%
Stocks
0.00% -1.60% 99.88% 85.89%
Preferred Stocks
0.00% 0.00% 30.46% 68.59%
Other
0.00% -72.32% 100.00% 75.27%

Bond Sector Breakdown

Weighting Return Low Return High TUIFX % Rank
Corporate
28.38% 0.00% 96.66% 56.81%
Government
7.18% 0.00% 99.43% 61.35%
Cash & Equivalents
0.02% 0.00% 88.14% 91.78%
Derivative
0.00% -72.32% 37.37% 47.64%
Securitized
0.00% 0.00% 99.65% 94.68%
Municipal
0.00% 0.00% 54.26% 66.51%

Bond Geographic Breakdown

Weighting Return Low Return High TUIFX % Rank
US
97.98% -151.11% 203.29% 15.78%
Non US
0.00% 0.00% 67.77% 81.34%

TUIFX - Expenses

Operational Fees

TUIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.49% 0.01% 20.67% 37.97%
Management Fee 1.00% 0.00% 2.29% 84.19%
12b-1 Fee 0.00% 0.00% 1.00% 8.15%
Administrative Fee N/A 0.00% 0.70% 44.90%

Sales Fees

TUIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TUIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TUIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% 94.04%

TUIFX - Distributions

Dividend Yield Analysis

TUIFX Category Low Category High TUIFX % Rank
Dividend Yield 4.59% 0.00% 18.15% 74.89%

Dividend Distribution Analysis

TUIFX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Quarterly

Net Income Ratio Analysis

TUIFX Category Low Category High TUIFX % Rank
Net Income Ratio 1.56% -1.55% 11.51% 85.98%

Capital Gain Distribution Analysis

TUIFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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TUIFX - Fund Manager Analysis

Managers

Randall Schroeder


Start Date

Tenure

Tenure Rank

Aug 28, 2013

8.76

8.8%

Randy joined Toews in March of 1998. During his tenure he has been the primary overseer of the Toews analytic methodology and is currently the co-portfolio manager for the Toews Funds. Randy received a B.A. from Bethel College in Newton, KS in 1988 and a Masters of Arts from the State University of New York, Binghamton, New York in 1994.

Phillip Toews


Start Date

Tenure

Tenure Rank

Aug 28, 2013

8.76

8.8%

Phil Toews is the CEO and founder of the Toews Corporation. Phil helped pioneer the field of unconstrained tactical management by building models beginning in 1989. In the construction of the Toews Dynamic Hedging Strategy, his focus was on building effective loss avoidance and reliable market up-capture. Phil received a B.S. in Business and Economics from Bethel College in Newton, KS, in 1986. In 1987 he joined IDS/American Express as a Financial Consultant. From 1989 through 1994 he ran the money management division at Dorset Financial Services, Corp., of Devon, PA. Since 1994 he has acted as chief executive at Toews Corporation where he has overseen all aspects of the Toews System.

Jason Graffius


Start Date

Tenure

Tenure Rank

Aug 28, 2014

7.76

7.8%

Jason began working with the Toews Corporation in October 2013. He oversees the day-to-day operations of and researches investment opportunities for the Toews mutual funds. Prior to this role, Jason was a Vice President at BlackRock Financial Management, Inc. where he worked on the Structured Finance Team, overseeing Collateralized Debt Obligations and various Hedge Funds and Government Mandated Projects. Jason has also previously worked at JPMorgan. Mr. Graffius received a B.S. in Accounting from Rutgers University in Camden, NJ in 2002.

Charles Collins


Start Date

Tenure

Tenure Rank

Aug 31, 2017

4.75

4.8%

Charles Collins is Head of Trading, Options & Derivatives Specialist and Portfolio Manager for the Toews Corporation. Prior to joining Toews in May 2016, he was an equity derivatives broker at Tullett Prebon in Jersey City, NJ. In that role, his primary responsibility was providing investment banks and asset money managers access to liquidity in products such as index and single stock options, delta one, variance swaps, and cash. Prior to his experience as a derivatives broker, he was a floor trader and an independent member of the New York Stock Exchange. Throughout his career he has acquired the Series 4, 7, 24, 55, & 63.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19